VanEck Semiconductor ETF (SMH) is a semiconductor ETF. As of October 28, 2026, ETF Copilot scores SMH 7.3 out of 10 — highest on Quality (10.0), lowest on Risk (0.7). It trades at 31.2 times earnings, against its own median of 27.1. Its ten largest holdings are 69% of the fund.
What stands out in SMH's data
Global semiconductor firms, weighted by market value.
Earns more on its capital than most chip peers — a sign of real pricing power in a cyclical industry.
Return on invested capital of 34.8% runs ahead of the 29.7% category median and above its own 30.2% historical average. The fund trades at EBITDA multiple of 24.9x.
A focused bet on the world's largest chipmakers, built for portfolios that want direct semiconductor exposure.
Why did SMH move this week? It rose 2.0% in the week to October 28, 2026 — SK Hynix American Depository and Texas Instruments drove it
SMH rose 2.0% in the week to October 28, 2026. The holdings that moved it most were SK Hynix American Depository (+15.0%), Texas Instruments (+8.8%) and Micron Technology (+7.6%); Nvidia (−3.0%) pushed the other way.
How is SMH rated? ETF Copilot scores VanEck Semiconductor ETF (SMH) 7.3 out of 10
As of October 28, 2026, ETF Copilot scores VanEck Semiconductor ETF (SMH) 7.3 out of 10 overall.
ETF Copilot scores (0–10 scale, higher is better):
- Overall: 7.3 / 10
- Growth: 9.9 / 10
- Value: 3.0 / 10
- Risk: 0.7 / 10
- Quality: 10.0 / 10
- Return: 10.0 / 10
Is SMH expensive right now? It trades at 31.2 times earnings, against its own median of 27.1
As of October 28, 2026, SMH is more expensive than 63% of its own last 9 years.
Trailing 12 months, built from SMH's holdings. How we calculate this →
What's inside SMH? 100% Tech
What's inside SMH: Size (Large 100%, Mid 1%, Small 0%); Geography (International 21%, US 79%); Tech 100.0%; Magnificent 7 20.2%; AI 49.6%; Semiconductors 91.9%; Memory 69.9%.
What are SMH's top holdings? The ten largest are 69% of the fund
Nvidia, Taiwan Semiconductor, Advanced Micro Devices, Broadcom, Texas Instruments, Analog Devices, Micron Technology, Marvell Technology, ASML and Intel are SMH's largest holdings, in that order.
More concentrated than 83% of Semiconductors ETFs.
Half of SMH's weight sits in its 6 largest positions, and once those weights are taken into account it behaves like 13 equally weighted holdings.
What is SMH's expense ratio? 0.35% a year
As of October 28, 2026, SMH charges 0.35% a year, yields 0.19% and holds $71.0B in assets across 25 positions.
| Measure | SMH |
|---|---|
| Expense ratio | 0.35% |
| Dividend yield | 0.19% |
| Assets under management | $71.0B |
| Holdings | 25 |
Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.
Cite this
ETF Copilot, “VanEck Semiconductor ETF (SMH) scores and holdings analysis”, as of October 28, 2026.
https://etf-copilot.com/etf/smh
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